Citigroup Maintains a Sell Rating on Freshpet (FRPT)


In a report released today, Wendy Nicholson from Citigroup maintained a Sell rating on Freshpet (FRPT), with a price target of $93.00. The company’s shares closed last Tuesday at $104.91.

According to TipRanks.com, Nicholson is a 4-star analyst with an average return of 7.2% and a 58.9% success rate. Nicholson covers the Consumer Goods sector, focusing on stocks such as The Simply Good Foods Company, Reynolds Consumer Products, and Edgewell Personal Care.

Currently, the analyst consensus on Freshpet is a Moderate Buy with an average price target of $94.85.

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Based on Freshpet’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $70.1 million and GAAP net loss of $3.59 million. In comparison, last year the company earned revenue of $54.79 million and had a GAAP net loss of $3.42 million.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FRPT in relation to earlier this year.

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Freshpet, Inc. engages in the manufacturing, marketing, and distribution of pet food and pet treats for dogs and cats. Its products are sold throughout the United States and in Canada under the Freshpet Select, Vital and Nature’s Fresh brands. Its products include deli fresh grain free chicken recipe for dogs; dog joy turkey and apple bites treats for dogs; nature’s fresh grain free chicken recipe for cats; and vital grain free chicken and ocean whitefish recipe for cats. The company was founded by Scott Morris and Cathal Walsh in November 2004 and is headquartered in Secaucus, NJ.

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